Owner controlled insurance programs would be available for bus facilities and bridge and tunnel capital projects under legislation sponsored by Chairman of the Insurance Committee, Senator James L.
Currently, the MTA and certain other public entities are permitted to use owner controlled insurance programs only in connection with the construction of electrical generating and transmission facilities or construction, extensions and additions of light rail or heavy rail rapid transit and commuter railroads.
"In addition, owner controlled insurance programs enable small contractors and subcontractors to be included in major capital projects where they might otherwise be excluded solely because they lack financial resources to obtain insurance at competitive rates,' Seward said.
The site also features downloadable files, links, and other information on construction defect mitigation, owner controlled insurance programs
, contractor controlled insurance programs, and more.